GBPPLN strong weekly demand level around 4.65 in controlGBPPLN strong weekly demand level around 4.65 in control, pretty decent move away created the imbalance. Longs at new daily demand zones.
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GBPPLN trade ideas
GBPPLN 4H Buyers Bullied outBuyers tried repeatedly to support the GBP without success. Sellers stepped in for a reversal
Longs at GBPPLN weekly demand level around 4.65Forex exotic GBPPLN is rallying on the weekly and creating new demand zones for potential longs. In an uptrend supply imbalances are removed and demand levels and zones are respected. Very strong impulse creating a good looking weekly demand level around 4.65 price area on GBPPLN Long bias!
IntersectionIntersection is when price is on 2 or more signal/set up that points out to the same direction.
In this example:
1. Price broke the trend line resistance and retested it as a trend line support. (Buy signal)
2. Price is at horizontal support (Buy signal)
GBPPLN LONG The GBPPLN isn't always clean price action , none the less there is an area of resistance. I'm expecting rejection again of this level and price to move downward to create a double bottom and a "W" pattern. Price will then break the resistance level and I will look to bid on the retest.
If it fail to make the "W" then I still expect a clean push through the level and buy a rounded retest
GBPPLNPrice broke the trend line resistance then retest. And currently it is around the trend line support and horizontal support (intersection).
It is also within 50% Fib and 61.8% Fib.
We also have a pin bar
LONG TERM BUY SETUPCurrent structure shows signs of reversal, Recent price action i consider as correction fom last impulse to upside marked as magneta arrow on chart.
MACD indicator shows signs of divergance on daily timeframe.
We are at the bottom of ascending channel started on beginning of 2010 year.
All abowe leads me to conclusion we will have e a nice rally in coming weeks on this pair.
GBP/PLNChikou span is above price and cloud + price is above cloud + kijun sen's angle is at 45 degrees + bullish kumo twist. Alternatively, you may enter when price retraces to kijun sen.
BUY SETUPThis is long term setup and I assume will take few months to hit target.
We have a inv head and shoulders in development and 2618 setup therefore I expect trend reversal.
Peak for right shoulder is almost reached and 5.09000 - 5.12000 is good level to enter.
We have also form of falling wedge in right shoulder which is good indication of upcomig up move.
Targets as on chart.
GBPPLN Reversing from confirmed resistanceThe lower white trendline have been tested now 4 times. Still no break. When you see the volume on those break tests, it was low. No selling power. I am very bullish on GBPPLN. In general always been pleased trading PLN pairs. But we aware it's not the most traded, so progress can take days and weeks. RSI and MACD seem to slowly move upwards as well.
GBPPLN continuation sell setup.Hi guys,
The pair GBPPLN broke daily structure. Watch for continuation sell setups to ABC target is likely a good idea.
Best regards,
Tom
GBPPLN continuation sell setup.Hi guys,
The GBPPLN broke structure on the 240. It is in C wave of a daily ABC pattern so watching for a sell setup is a good idea. I would wait for a correction to structure before any sells.
LONG SETUP - GBP/PLNWait for correction structure (which should not cross lower blue dotted line) - confirmation of long term setup.
SWING TRADEWe might have nice opportunity for swing trade. I will trade between support and resistance zones.
Wait for breakout of upper trendline to enter the trade or for bounce back from support zone if one more down.
Where GBP/PLN is going?It's going to fall to 4,03PLN but TSI is one of few indicators which shows divergence between indicator's and price's lines.
HEAD AND SHOULDERS PATTERN ?We have possibly head and shoulders pattern in development on daily time frame.
if price won't be able to break above magneta line you can short with target around 4.91000 level.
